US markets finally triggered global correction yesterday and after continuous declining US futures Indian markets broken down last 6 days range. Short term down trend and testing of 5351 is confirm now. Last 15 sessions move was the result of 8 sessions narrow range consolidations within 5360-5380 and sustaining below 5351 will confirm short term down trend.
Next supoort range below 5351 is 5230-5270 and if Nifty sustains below 5351 today then its testing possibility will be high because that will mean termination of 21 days slow upmove in 3 days and it will be strong down move confirmation. IF Nifty sustain below 5210 then Intermediate term trend will be down and then next levels will be discussed because it is strong support and its break down will trigger deep down levels in Indian markets.
Global storm is high and correction has begun therefore expected that 5351 will be broken down and next support range(5230-5270) will be tested and voltality will be high in the coming sessions.
Whole Red day expected today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
